Oil Falls On Resurgence Of Virus Cases, Oversupply
Oil prices dropped on Friday and were headed for weekly declines as inventories rose and record-breaking new coronavirus cases in…
Month: July 2020
Forex: Naira Stable On Parallel Market
The naira stayed stable at N461/$1 on the parallel market yesterday, as traders appeared confused about whether the Central Bank…
Place Visitors From Lagos, Abuja On 14-Day Isolation, Wike Tells Rivers Residents
Governor Nyesom Wike of Rivers State has advised residents to be wary of persons coming from states with high coronavirus…
Mixed Reactions As CBN Moves To Unify Exchange Rate
Lagos — With moves by the monetary authorities to unify the Naira foreign exchange (forex) rates gaining traction, economic analysts…
Nigeria’s Confirmed Coronavirus Cases Pass 30,000 -NCDC
Nigeria’s confirmed coronavirus cases passed 30,000 on Wednesday, the country’s disease control centre said, as the virus spreads in Africa’s…
FG Explains Deregulation Of Oil Downstream Sector
The Minister of State for Petroleum Resources Chief Timipre Sylva says the deregulation of the downstream oil sector was to…
Africa’s CDC Urges More COVID-19 Tests, Masks, As Continent’s Cases Top 500,000
African countries urgently need to scale up coronavirus testing and the use of face masks, a regional disease control body…
China’s market euphoria trumps political risk in Hong Kong
Investors in China’s soaring stock market are increasingly turning to Hong Kong for bargains, egging on an investment boom on…
Brazil’s Bolsonaro Bets ‘Miraculous Cure’ For COVID-19 Can Save Brazil
Brazilian President Jair Bolsonaro has gone all in on hydroxychloroquine to help his coronavirus-ravaged country beat COVID-19. He has pushed his government to make the malaria drug widely available and encouraged Brazilians to take it, both to prevent the disease and to treat it.
Fed Officials Suggest U.S. Recovery May Be Stalling
Federal Reserve officials raised fresh doubts on Wednesday about the durability of the U.S. recovery, while new business surveys highlighted…
India Raises Concerns With U.S. Over New Rules For Foreign Students
India has conveyed its concerns to the United States about a new immigration order that could force a large number…
Harvard, MIT Seek Temporary Halt To Trump Administration Rule On International Students
Harvard University and Massachusetts Institute of Technology have asked a federal court to temporarily block a Trump administration rule that…
Nigeria: Aviation Authority Suspends Skypower Express, 14 Aircraft For Violations
Ahead of the resumption of commercial domestic flights on Wednesday (today), operators in the aviation sector have introduced various mechanisms…
Nigeria: NCAA Denies Aero, Azman Air Approval
Aero Contractors, Azman Air and Max Air Limited have failed to meet the Nigeria Civil Aviation Authority’s approval to resume…
African Economies Could Shrink 3.4% This Year, Rebound In 2021 -AfDB
Nigeria resumed domestic flights on Wednesday after a hiatus of around three months as Africa’s most populous country relaxes…
Nigerian Stocks Slip As Fears Rise Over Naira Devaluation
In the face of economic uncertainty, dollar scarcity and depressed Oil prices, the Central Bank of Nigeria (CBN) has devalued…
Nigeria: Oil Palm Waste As Money Spinner
In the past oil palm waste were discarded. Not any more as two entrepreneurs are using technology to put them to…
Insulating Nigeria From Perennial Oil Price Volatility
Price volatility is a constant feature of the oil market, exposing oil-dependent countries like Nigeria to regular economic crises when…
Nigeria Restarts Domestic Flights Amid Easing Coronavirus Restrictions
Nigeria resumed domestic flights on Wednesday after a hiatus of around three months as Africa’s most populous country relaxes restrictions…
Latest Nigerian Currency Devaluation Sows Confusion With Traders
Naira devalued by 5.5% against dollar, according to FMDQ data. Nigeria is seeking to unify its multiple exchange rates
Ghana Reopens Over 600 Nigerian Shops
The President of National Association of Nigerian Traders (NANTS), Dr. Ken Ukaoha, has said that over 600 shops belonging to…
Sterling Clings To Three-Week Highs Ahead Of British Budget Plan
Sterling was steady at $1.2545 GBP=D3 and at 89.96 pence against the euro EURGBP=D3 on Wednesday, a day after hitting three-week highs…
Nigeria: Third Mainland Bridge: Fed, Lagos Govts Release 6 Months Traffic Plan
The Federal and Lagos State Governments, yesterday, rolled out traffic management plans for seamless execution during the partial closure of…
India’s Palm Oil Imports Climb To 5-Month High On Low Stockpiles
Palm oil imports by India climbed to a five-month high in June as traders and refiners in the world’s biggest…
Dollar Dips As Risk Sentiment Proves Elusive
The dollar dipped slightly on Wednesday as investors weighed hopes for a swift economic recovery against fears about a resurgence…
Nigeria’s Naira Eases Sharply On Official Market After Pressure To Unify FX Rate
Nigeria’s naira eased 5.5% on the official market on Tuesday, after the central bank sold dollars to lenders at a…
Nigeria: Speculators Remain In State Of Flux
The naira depreciated against the dollar at the Investors and Exporters (I&E) window on Monday, closing at N386.50 to a…
Nigerians Drag China To Court, Seek U.S.$200 Billion Compensation Over COVID-19 Pandemic
Abuja — Twenty-five Nigerians from all walks of life have dragged the Peoples Republic of China before the Federal Capital…
Vetiva Predicts Stability For Nigeria’s Naira In Near Term
Analysts at Vetiva Research have predicted that despite the downside risks affecting the exchange rate, various policy measures introduced by…
Germany Eyes Breakthrough In EU Migration Dispute This Year
Germany said on Tuesday it wants European Union nations to overcome a deadlock on how to handle refugees and migrants…